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US rival enters race for Enodis

Mark Kleinman

June 4 2006, 1:00am, The Sunday Times

Wisconsin-based Manitowoc, one of the world’s biggest suppliers of lifting equipment to the construction industry, has appointed JP Morgan Cazenove to draw up a bid for Enodis that will trump an earlier offer from Middleby, another American industrials firm. Middleby is understood to be considering making a higher offer.

People close to the situation said this weekend it remained possible that Manitowoc would not make a formal offer, but it is thought there has already been contact between the company and Credit Suisse, which is advising Enodis. Both sides refused to comment this weekend.

Manitowoc and Enodis already operate in some identical areas, including the manufacture of ice-dispensing machines and refrigeration equipment.

Last month, the board of Enodis rejected Middleby’s 195p-a-share offer, which valued the…